Wells Fargo now announces massive layoffs for 2024 as the bank continues to transition its services online. According to the Worker Adjustment and …

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Wells Fargo Now Announces Massive Layoffs For 2024

Every mainstream media outlet is predicting a looming housing market crash. But billionaire real estate investor and bestselling author Grant Cardone says there will be no housing crash in America.

Grant Cardone walked us through his thoughts on the economy and the future of housing in America.

“The day of owning a home, if you don’t grab yours in this next cycle, you’re probably not going to have one in your lifetime.”

Grant says these homes are going to become rental properties primarily for the investor, not the end-user.

And, in the process, become extremely valuable in the future.

The only thing that would change the trajectory of ownership statistics, in his eyes, is if mortgages are hypothetically stretched from 30 years to 50 years.

Grant believes we could see this really happen in our lifetime.

A 50-year mortgage would mean people would pile back into housing due to the significant drop in payments.

Inflation in America and the Impact on the Housing Market

“I don’t believe that anybody, any fed or any group within the government can actually manipulate inflation. I don’t know of any time in history where a monetary policy actually removed inflation from the equation. I’ve only been around 64 years though; I’ve seen prices go up the whole time, I’ve never seen prices not go up,” said Grant Cardone when addressing the impact of inflation on the housing market.

And it makes sense.

The housing market has a history of outpacing inflation, which has certainly made it much more difficult for people to buy houses over time.

For the investor however, it means the value of their properties will always rise despite any minor pullback in the market.

The typical homebuyer in the 80s was 25-34 years old whereas in 2000 the typical home buyer was 44.

Rent in America will continue to rise and so will the value of properties, and it seems the fed can only do so much to drive inflation down.

What I got from this important conversation was Americans will need to start playing on the offense.

Source(s): Grant Cardone, Nez Media Company.

Frank Nez

American Entrepreneur and Journalist. Frank Nez is the CEO of Nez Media Company and Founder of advertising agency Easy Marketing Concepts.

Bankrupt cryptocurrency lender BlockFi is suing Sam Bankman-Fried over shares in Robinhood that the FTX founder allegedly pledged as collateral earlier this month.

Just hours after filing for bankruptcy protection, BlockFi on Monday sued Bankman-Fried’s Emergent Fidelity Technologies vehicle, demanding he turn over unspecified collateral BlockFi says it is owed.

The complaint was filed in the same New Jersey court where BlockFi initiated bankruptcy proceedings.

The collateral at issue is Bankman-Fried’s stake in Robinhood, the online trading company, according to loan documents seen by the Financial Times.

He bought 7.6% of Robinhood earlier this year.

Sam Bankman-Fried / FTX Scandal

The dispute is the latest blow to Bankman-Fried, whose $32bn FTX empire collapsed this month in what is the biggest insolvency of this year’s crisis in crypto markets.

Authorities in the US and the Bahamas, where FTX was headquartered, have launched investigations.

BlockFi’s bankruptcy filing shed further light on Bankman-Fried’s fall, showing that his failed crypto trading firm Alameda Research defaulted on $680mn of collateralized loans in early November.

The complaint claims that BlockFi entered into an agreement with Emergent on November 9 to guarantee the payment obligations of an unnamed borrower by pledging certain “common stock” as security.

Earlier in November, the Financial Times reported that Bankman-Fried had been privately attempting to sell the Robinhood shares using the secure messaging app Signal in the days leading up to FTX’s bankruptcy filing on November 11.

BlockFi also named brokerage ED&F Man Capital Markets in its lawsuit, saying the London-based company was the broker involved in the pledge agreement.

ED&F Man has “refused to transfer the Collateral to BlockFi”, the lender states in the complaint. BlockFi, Bankman-Fried and ED&F Man did not immediately return requests for comment.

Other FTX News

Billionaire investor Ken Griffin is speaking out on what’s happened with the collapse of FTX.

Ken Griffin told Fox Business, “FTX is one of these absolute travesties in the history of financial markets.” 

Griffin expressed concern that losses sustained by younger investors who lost money due to FTX may make them less likely to invest their savings in capital markets, including traditional instruments like stocks and bonds.

“The confidence, though, of a generation in financial markets has also been shaken. That’s really awful because the 20-some-year-olds to 40-year-olds who are so engaged in crypto — they’ve got to save for their retirement, and if they don’t believe or trust in financial markets, this is a huge problem. They need to own stocks, they need to own corporate debt, they need to partake in our global capital markets,” Griffin said.

Concerns in the retail community have also surfaced by the AMC Entertainment token that appeared on FTX’s cryptocurrency exchange.

Ben Armstrong will be interviewing Sam Bankman-Fried within the next few weeks via Twitter Spaces.

Follow us on Twitter and Facebook for the latest updates.

Curated by Nez Media.

Nez Media Team

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